> Main > Government > Press Releases > PRESS RELEASE BY THE PARLIAMENTARY SECRETARIAT FOR FINANCIAL SERVICES, DIGITAL ECONOMY AND INNOVATION: The Maltese Government is receiving recommendations for an effective legal framework regulating blockchain technology and digital assets.

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PRESS RELEASE BY THE PARLIAMENTARY SECRETARIAT FOR FINANCIAL SERVICES, DIGITAL ECONOMY AND INNOVATION: The Maltese Government is receiving recommendations for an effective legal framework regulating blockchain technology and digital assets.

Reference Number:
PR172750en,
Press Release Issue Date:
Nov 30, 2017

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Whilst Malta is working on
implementing its national blockchain strategy by means of enacting a new legal
framework next year which regulates DLT Technology, the MFSA has published a
discussion paper on cryptocurrencies, Initial Coin Offerings (ICOs) and service
providers in this area.

Parliamentary Secretary for
Financial Services, Digital Economy and Innovation Silvio Schembri is
encouraging all those interested in investing in this new sector of the digital
economy to come forward and make their recommendations.

In a meeting with the
Parliamentary Secretary, Stasis.Net stated that
they will be sending their recommendations for an effective legal framework
that regulates the use of blockchain technology and cryptocurrencies to both
the national blockchain taskforce and the MFSA.

Parliamentary Secretary Schembri
stated that “we are developing appropriate legislation to become an
international hub for blockchain operators.”

CEO and founder of Stasis.Net
Gregory Klumov reiterated his satisfaction with Malta endorsing and supporting
new regulatory approaches to blockchain and cryptocurrencies in the reshaping
of the future of digital assets.

Gregory Klumov stated that “soon,
we will be able to bridge the existing gap between on-demand blockchain economy
and finance, which people can benefit from.”